Question 12 On January 3, 2018, Sheffield Corp, owned a machine that had cost $402000. The accumulated depreciation was $245000, estimated salvage value was $24500, and fair value was $639000. On January 4, 2018, this machine was irreparably damaged by Pharoah and became worthless. In October 2018, a court awarded damages of $485000 against Pharoah in favor of Sheffield. At December 31, 2018, the final outcome of this case was awaiting appeal and was, therefore, uncertain. However, in the opinion of Sheffield's attorney, Pharoah's appeal will be denied. At December 31, 2018, what amount should Sheffield accrue for this gain contingency? $516500. $ 639000. $394000. so. Click if you would like to Show Work for this question: Open Show Work TO TEXT Question Attempts: 0 of 1 used S SUBMIT